Businesses and estates and trusts holding a business or an interest in a business and beneficiaries of trusts, face important local, state and federal tax decisions every day. Many of these are answered by staff or accountants. However, on occasion, the questions need more review or are presented by the taxing authorities, whether IRS, the Department of Revenue or a local authority. Members of the BPM Tax Group are well versed in local, state and federal taxes and regularly counsel businesses and their owners and estates and trusts on taxes related to their operations, including, for instance, S Corporation elections and issues, state and federal constitutional issues for state and local taxes, tax audit issues, reporting requirements, corporate and partnership and LLC taxation and entity selection, gains on asset sales and entity liquidation, reorganizations including mergers and spin-offs, and tax-qualified employee benefit plans.

The BPM tax group has extensive estate planning practices which concentrate on transferring property among family members in the most tax efficient manner consistent with the desires of the client. Counseling clients on the disposition of their assets, whether by lifetime transfers or transfers which will take effect on death, requires the ability to determine a client’s true objectives as well as the confidence to challenge a client on his or her preconceived notions on how to meet those objectives by recommending alternative methods. The BPM Tax Group has the experience and talent to design a plan to best meet the client’s objectives and assist in the implementation of the plan.